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Us 15, America 8, Barack Obama 5, Clinton 3, Obama 3, Massmutual 2, Romney 2, Arkansas 1, Em 1, Eheh 1, Obama 's 1, Obama Administration 1, Coca-cola Up 1, Bashan 1, Bill Clinton 1, Lawton 1, Michael Reagan 1, Porter Viggo 1, John Mccain 1, Ryan 1,
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  FOX Business    Stossel    News/Business.  
   Current consumer issues.  

    September 5, 2012
    11:00 - 12:00am EDT  

[cheers] [applause] the president's energy strategy, which he called all of the above is helping, too. the boom in oil and gas production combined with greater energy efficiency has driven oil imports to a near 20 year low of natural gas production to an all-time high. renewable energy production has doubled. [cheers] [applause] of course, we need a lot more new jobs. but they're already jobs open and build an america or it was because the people that apply for them don't yet have the required skills to do them. so even as we get americans more jobs, we have to prepare more americans for the new jobs they are actually going to be created with. the old economy is not coming
back. we have to build a new one and educate people to do those jobs. [cheers] [applause] [cheers] the old economy is not coming back. we have to build the new one for those people to do those jobs. [cheers and applause] president and education colleges and employers in working together to train people for jobs that are actually open in their communities. even more important, after a decade in which exploding college costs have increased a dropout rate so much that the percentage of our young people with four-year college degrees has gone down so much that we have dropped 60th in the world. and the percentage of college degrees. so the president's student loan reform is more important than ever. here is what it does. here is what it does. you need to tell every voter
will you know about this. it lowers the cost of federal student loans and even more important, it gives humans the right to repay those loans at a than ever. here is what it does you need to tell every voter to lower the cost of federal student loans and has the right to to repay the loans with a low fixed percentage rate at 20 years. what does this mean? it means that no one will ever have to drop out of college for fear of not being able to repay it means if someone wants to take a job with a modest income teacher, a police officer, a small-town doctor , they don't have to turn the jobs down to repay the debt obligation it is
determined by their salary. it will change the future for young americans. [cheers and applause] but on these issues i know we are better off because obama's obeyed the decisions that he did. that brings me to health care. [cheers and applause] republicans called it obamacare. they say it is a government takeover, and a disaster and if they are elected they are they right? let's take a look at what has actually happened so far. let's look. individuals and businesses have already gotten more than $1 billion in refunds
from insurance companies because your premium pass to go to health care not profits or promotions. [cheers and applause] a bunch of insurance companies will lower the right of the requirements. many are insured for the first time. third, millions of other seniors in the of the people get them. fourth, the insurance companies will have millions of new customers, and many middle-class people with
pre-existing conditions who could never get insurance before. [cheers and applause] finally, "this is it." for the last two years building up three times of inflation, health care costs have been under 4% for the first time in 50 years. [cheers and applause] let me ask you something. are we better off because president obama of thought for health care reform? you bet that we are. two other attacks on the president from tampa of. both mitt romney and paul ryan attack the president for robbing medicare.
700 and $60 million. that is the same tax the level against congress in 2010. they got a lot of votes on it. it is not true. here is what really happened. there were no cuts to benefits. the president took the recommendations of the commission of professionals to cut unwanted subsidies that were not making people healthier and not necessary to get providers to provide the service. and use the savings to close the doughnut hole in the medicare drug program. [cheers and applause]
you have to listen carefully. and adding eight years to the medicare trust fund so it is solvent through 20204. [applause] president obama and the democrats did not link in medicare, the strength and it. when congressmen ryan attacked president obama medicare savings as quote mack the biggest coldest power play" i did not know whether to laugh or cry. [laughter] that is $716 billion to the same amount of medicare
savings he had in his own budget crop it takes brass to attack a guy for doing what you did cup class [laughter] you are having a good time. this is getting serious. i want you to listen. [laughter] people believe this. this one issue governor romney has been consistent. [laughter] he attacked president obama
but he wants to repeal the savings to give the money back to the insurance company. he wants to go back to the old system to open the doughnut hole for prescription drugs and reduce the lightbulb of the medicare trust fund by eight years. if he is elected and does he promises medicare will go broke 2016. we don't have to wait until the voucher program kicks 102023 to see the end of medicare as we know it to. it will happen sooner than we thought. this is serious. it gets worse. [laughter] he will not be laughing when
i get finished. they also want to to block grant medicaid and cut it by 1/3. that will hurt all lawton of four kids. nearly two-thirds of medicaid is spent on nursing-home care for seniors to are eligible. it will end medicare as we know it. a lot of that money is spent to help people with disabilities. including zero lots of middle-class families whose kids have autism or down's syndrome. think about it. if that happens, i don't
know what those families will do. i know what i will do. i will make sure it does not have been. we cannot let this happen. [applause] the other big charge the republicans made. in this day doozy. [laughter] they ran ads obama's out once too weak and the work reform requirements -- requirements i signed for welfare work. here is what happened.
nobody tells you what really happened. when republican governors asked if they could have new ways to put people back to work, the obama administration listened it is hard to get jobs today so welfare to work is a challenge. the administrations agreed to give waivers to those only if they had incredible plan to increase employment by 20% and could keep them if they did. em likelier? the requirement was for more work. not less. this is personal to me.
we move to millions of people off of welfare. why we have a 100 times as many people move into the middle class than the previous 12 years. it is a big deal. but to claim president obama weekend welfare work requirements it is just not true. but they keep running ads claiming it. do you know, why? the campaign pollster said we're not going to let the campaign be dictated by fact checkers. [laughter] finally i can say that is true. [cheers and applause]
i could have not said it better myself. i want you and every american remember every time you see one of those ads it turns into a bad to reelect a ball met with personal empowerment to get everybody to work as soon as we can. [cheers and applause] today interest rates are lower than the rate of the inflation and people are paying us for their money. but it will become the problem when interest rates rise. we have to deal with the long-term debt problem or it will deal with us.
it will take up a bigger part of the budget we would rather spend education, and technology. the president has offered a reasonable plan of $4 trillion of debt reduction over a decade with every 2.5 of cut he raises $1. that is the balanced approach proposed by the simpson bowles commission, but a bipartisan commission and. that is we better than governor romney. the romney plan fails the first test of fiscal responsibility. the numbers do not add up. [laughter] consider this, what would you do? we have a debt problem so
what is the first thing we will do? we will have another $5 trillion of tax cuts. heavily weighted for the higher income people. when you say but we do about that $5 trillion? they said we will make it up by eliminating loopholes. you say which ones and how much? [laughter] they say see me after the election. [laughter] i am not making that up. see me after the election in. how did we get four surplus budgets in a row? iger of all one word answer. arithmetic. [cheers and applause]
arithmetic if it is a $5 trillion tax cut plan a debt reduction plan? the arithmetic tells us the matter what they say one out of three things will happen. number one assuming they will do what they say cutting deductions they will have to eliminate some deductions like home mortgages and charitable giving middle-class families who see their bill go up $2,000 but if you make $3 million or more the bill will go down.
number two, they will have to cut so much spending there will obliterate the budget for the national parks and clean food, currently near, cutbacks until grants, education, chair of nutrition to help empower middle-class families and help the poor kids. or cut back on and boats and bridges and biomedical research. that is what they will do. as they will put the future on hold. tax cuts on upper-income who get it all along. number three, they will cut taxes more than they cut spending especially with the big defense increase and explode the debt and weaken
the economy. there will destroy the federal government's ability to help you by letting the taxes gobble up. don't forget when they talk about this. republican economic policy quadrupled the debt the four years before i took office. [applause] doubled the debt eight years after i left. because it defied the arithmetic. it was highly inconvenient during the debates and i came from a place where i thought 2 + 2 = four. it is arithmetic. we simply cannot afford to
give the reins of government to someone who will give the of the reins of government and double down four trickle-down club lap president obama's plan ruins of values, of of our future future, of families and the nation. it is a heck of a lot better and it passes the arithmetic test and it passes the values test. my fellow americans, all of us in this grand hall, and everybody watching at home home, we will decide what kind of country we point to levin. if you want to a
winner-take-all you should report -- supports republican ticket but a few one shared responsibility that we are all in this together you should go to four barack obama. [cheers and applause] if you want america where every american to vote and you think it is wrong to change voting procedures -- . [cheers and applause] just to reduce the turnout of minority and disabled voters you should support barack obama. if you think the president
was right to open the doors of american opportunity for those immigrants who were brought here when they beyond two sir in the military or go to college then you need to go for barack obama. [cheers and applause] if you want the future of shared prosperity with poverty declining comment american dream is alive and the united states maintains its leadership for peace and justice and prosperity in the highly competitive world then you have to go to war for barack obama. [cheers and applause] lie in love our country so much. i know we are coming back
for more than 200 years we have always come back. people have predicted our demise since washington was criticized for being a surveyor with false teeth. everyone who bets against america has lost money. we always come back. a little stronger and better. because in the end we champion the cause for which they place their lives and fortunes an honor in order to form a more perfect union [cheers and applause] if that is what you want, what you believe then
you must vote for barack obama god bless you. god bless america. [cheers and applause] ♪ ♪ ♪ [cheers and applause]
neil: you could not ask for sa batter or more well delivered speech to deliver your policy is that barack obama got from bill clinton tonight. agree or disagree of the government's role of health care and what he has done on the stimulus front, if those programs work to your advantage, and nothing like bill clinton not so concise concise, but clearly in your favor. he did that tonight. the question is if people beyond the call see that. i have balance of seven joining me on the phone.
co-chair of the debt commission. how do you feel he articulated the obama's success record? >> i apologize. i guess we did lose him we will have michael reagan but it is a remarkable way to make the argument barack obama by his own mission that he could tell his story. i wonder if it made a difference in? >> for a country boy from arkansas he did exactly what
the president wanted. a speech code details this sounded like "state of the union." it went along but maybe longer than obama's acceptance speech. president clinton said trusted the president, his plan, it is working. see it through. then it will be a repeat of 1996. neil: it was a pretty good speech. >> he spoke with 50 minutes much longer than clinton 1988 speech which was hailed for going too long. you saw his down-home humor
and little doozy. the most important thing he said listened very carefully, no one could have repaired the damage within four years. but remember what the president told the today showed netted the vied of how this cleaned up within three years it is a one-term proposition. it is interesting to see if he is held accountable or clinton's vision of irreparable damage was done. neil: i thought of abraham lincoln who faced a more trying time and did do it with another four years but to see how far they would go
to defend the president went way overboard. some things that i quibble with like the gains added to the stimulus, of factory jobs number that is what the debated that may are made not have benefited from the stimulus but did bill clinton offer rationale for explaining the tepid rate of the recovery? with a blast 29 months that maybe this is what is good? >> here is his most important accomplishment. all of the democrats packing bell called the fear was feeling good about themselves that a democratic
president can be good for the economy. there is a high strong chance they turn off the tv tonight feeling good about themselves. neil: to energize the base because that seems what it comes down to. >> we will see if there is about six or mobilization of. john mccain got a greater bounce and -- last time. but the majority of americans do not believe we're on the right track. he framed it as a choice welfare
reform, medicare, medicaid, student loans we heard from those who took to it on the gender basis. neil: there are lot of added cost and surcharges where 5,000 doctors have issues of being in the profession. but this allows the electorate to say we forgive you because you are a promising student? >> o.r. for what clinton has done. it laid the predicate for obama on thursday. neil: barack obama appealing to his better instincts to to his better instincts to shine the light on the
and a light where it can find it. making the compelling argument more government, and more initiatives on health care, of stimulus when republicans were running the table suddenly -- we have big dreams.
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puerto rico. they spent so much businesses fled. with the current governor was elected there was not enough money to pay the workers. he changed beings. what did you do? >> what every family and business does. we stop spending more and focused on what was important and lowering taxes john: you cannot just cut taxes but on the mainland they did not want to do that. >> in three years we cut the budget by 90% we will be balanced next year. john: you fired workers even in the wisconsin
at -- wisconsin he did not fire anybody. >> i cut my own salary by 10%. i froze all salaries and cut government contracts and leases. we had to let people go and a mechanism for other businesses. now they make more money. it makes more sense. john: one woman started her own beth -- business and named it after the loss. >> the most difficult decision but it was the right thing to do. john: 39,000 few were work for the government. they were fired.
you were really unpopular. people were writing at the house. >> it was a very tough decision. when the government takes care of everything but the next day you set up your own business or work for somebody else's business. john: simpler rules? >> the permitting process was crazy. we simplified dramatically to seven you had 28 permits? >> now you do what of nine. john: now those businesses are returning. >> and expanding. wal-mart. costs go. coca-cola up. it makes sense it is simpler
were you can keep your money. john: porter viggo is the good news story. and a wish people would go to their politicians you cannot spend money. are people getting the message? >> i hope so. when to simplify the rules so people can grow the businesses to seven politicians' message up. john: to your colleagues get that?
back many governors are doing the same thing you have to go to the state level to understand. john: people called you a fascist and not see. you were 22 points behind. >> now we are even. if you have the right conditions, overtaxes, voters will come around to. john: not right away. most people don't like firing government workers for ronald regan was unpopular. >> but voters look for results. one of them made toll roads
not maintained or well preserved. we had a 40 year concession to a private company. now they look much better. well-kept for good next month we do that with the airport to. and the penitentiary possibilities. school construction and meet its are handled by the private sector. john: quick like a band-aid? >> is not easy. john: it is better. >> it works. it does. but not everyone is willing to take the risk to be unpopular even and this the right thing to do.
i know the name of eight princesses. i'm an expert on softball. and tea parties. i'll have more awkward conversations than i'm equipped for because i'm raising two girls on my own. i'll worry about the economy more than a few times before they're grown. but it's for them, so i've found a way.
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or trouble breathing. tell your doctor your medical history and find an arthritis treatment for you. visit and ask your doctor about celebrex. for a body in motion. john: america online the "road to serfdom" not because they spend too much but they missed opportunity to make money. it is not there money but your money. why keep track? government that is the biggest landowner owning 81% of nevada, most of utah, alaska, idaho. they could sell it or lease it. in the nation's capital john mica discovered government waste tons of money letting
office buildings sit empty. >> this is called -- so close to the white house the cbo says it is worth $150 million but it is empty five years. >> also property. only 90,000 square feet. >> we have some and they and the stock 1 million square feet no attendance. john: it is empty? >> it is bureaucrats. they cannot make a decision. nobody wants to make a decision. we have miami, chicago, los angeles. >> the old post office? >> part of it but they still
lose $6 million per year. >> the annex has been vacant 15 years. it is beautiful. john: some employees were caught making the videos talk about wasting our money. even these two did not do it all the time. >> you miss the point*. there is nobody bashan. john: but congressmen joins us now. >> the job is ours to motivate. the taxpayer is left holding the bag. nobody pays attention that we sit on valuable assets running up trillion dollars of deficits. john: the gsa admits and has
14,000 excess buildings. you can click on add thought to learn how your money is wasted. the linkage is posted at john but those buildings do not include the empty buildings? >> there are more. we are just talking not own the gsa but military and post office outside of our jurisdiction. john: we've received a response. one year-ago the president called congress to cut through red tape and currently they have 20 steps to go through before moving a property to sale. they say it is the fault of congress. >> some of it is.
some people benefit that way. john: we could not wait so we cut real-estate costs by 1.5 billion. >> we can go further. approaching $17 trillion of debt to you have to start somewhere. heaven forbid the private sector is a default. that is a flawed way to conduct the people's john: you used to be a private developer? >> i don't know anyone who would turn over their property for the government to manage. they would have to be crazy. john: could block saving us money. dubious touching story it is dubious touching story it is a slide show
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john: all little over the top to say america is it is on a 96 many don't know what i am talking about but you know, because you watch the show and a title of the book written by hijack. he explained it leads to stagnation and property and the most important change is a psychological change and the character of the people.
>> it turns us into presence who work the land but could never prosper because the land and everything controlled by the aristocracy. the rulers kept people dependent. most do not want to keep us dependent they believe in central planning but after the failure of the soviet union and cuba, north korea and the post office to believe this time it will work willful blindness. of course, my president is a smart guy did not believe he would be so willfully blind. it is called the life of julia featured on the obama website.
she gets a head start from headstart. at 17 federal money raises test scores. in college research reit then the free birth control as a young worker. public school and so on through retirement when so security allows her to volunteer and retire. isn't government great? and no. life of handouts socks the spirit out and makes us serf. that life is not good for america even if it was accurate. that to creeps me out. this advertisement is not accurate and ignores the obvious truth. three year-old julia will not get to a head start from
headstart -- headstart despite spending $20,000 per child it does not help kids. government raises the s.a.t. scores come in and out of events. spending has tripled but scores are flat. in college she may get the pool subsidized by dollars. when she gets her three contraceptives and the surgery taxpayers pay r that to but she will have to wait one year before the surgery. her son will not find great teachers and the monopoly will not allow other choices. and she cannot retire because so security and medicare are being grabbed. unsustainable and having trouble finding any job because regulations will kill job growth.
give me a